State OKs funding for Michaels' senior affordable rentals in Chinatown

The HHFDC board approved the issuance of tax-exempt bonds, $29.4 million over 10 years in low-income housing tax credits and $41.1 million from the state’s rental housing revolving fund to fund the $85.6 million Halewaiolu Senior Residences project on River Street in Chinatown.
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